Handle off sharply at Keeneland

Betting declines 19.3% despite large crowds

Apr. 24, 2009

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Keeneland Race Course in Lexington drew some of the largest crowds in its history this spring and also benefitted from its races being available on all major account-wagering platforms.

But those pluses weren't enough to offset sharp declines in betting during the thoroughbred track's 15-day meet.

Preliminary results showed a 19.3 percent drop in all sources handle to $117 million, with a 9.8 percent decline to $19.2 million in on-track handle for Keeneland's races.

Average daily on-track handle was $1,282,928, a 3.8 percent drop from last year's $1,333,106, when the track was open 16 days.

The total attendance of 240,755 was the third-highest in track history, down 1.1 percent from 243,606 last year. The 16,050 average daily crowd was up 5.4 percent from last year and was the second-highest in Keeneland history.

The meet saw two crowds of 30,000-plus, including the 33,680 on April 18 that was the second-largest in track history.

"We are very gratified by the great turnout from our fans," Nick Nicholson, Keeneland president and chief executive, said in a statement. "Three of the past four spring meets have been the best in Keeneland history, so this is a trend and not an aberration."

The meet was the first for Keeneland to be available on all four major national account-wagering platforms -- Churchill Downs' TwinSpires.com, TVG, XpressBet.com and Youbet.com.